Take long position in M&M: Sukhani

Take long position in Mahindra and Mahindra (M&M), says Sudarshan Sukhani of technicaltrends.com.

Sukhani told CNBC-TV18, "M&M is the most appropriate stock to go and take a long position. See the Nifty has to support these long positions but whenever the Nifty gives a sense of stability like it did yesterday afternoon, M&M I would say is the best poise to take advantage of any up move."
The company touched its 52-week high Rs 874.75 and 52-week low Rs 585.10 on 28 Oct, 2011 and 28 Feb, 2011, respectively. Currently, it is trading -19.26% below its 52-week high and 20.71% above its 52-week low. Market capitalisation stands at Rs 43,365.04 crore.
The company's trailing 12-month (TTM) EPS was at Rs 43.71 per share. (Sep, 2011). The stock's price-to-earnings (P/E) ratio was 16.16. The latest book value of the company is Rs 167.46 per share. At current value, the price-to-book value of the company was 4.22. The dividend yield of the company was 1.63%.